2018-11-15T08:39:30-05:00 2017-12-31 472604526 GARVEY STEELE & COMPANY LLP PO BOX 397 MYSTIC CT 063550397 990 2017-01-01 050254228 GREENWOOD CREDIT UNION INC GREE 4017394600 2669 POST ROAD WARWICK RI 02886 JOSEPH LAJOIE CFO/SR VP 4015622700 2018-11-15 true MICHAEL R GARVEY CPA P00264137 8605369831 2018-11-15 23.30.174.89 2018-11-15 07:39:30 CS P 97DB9962C47C60A4FA4E0617B85582D50FB1056D 5B5CA7FD07B7338219B8C37395F5B6EA9C1C510F 2017 2018-06-14 16:35:46Z FREDERICK REINHARDT 2669 POST ROAD WARWICK RI 02886 17370931 false X WWW.GREENWOODCU.ORG X 1948 RI THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS. 9 8 77 0 0 15202675 16332268 1324855 1038663 0 16527530 17370931 0 0 4427796 4541170 0 0 9953070 10954440 14380866 15495610 2146664 1875321 456261334 496810470 414966124 453639939 41295210 43170531 THE CREDIT UNION IS AN ASSOCIATION OWNED BY ITS MEMBER DEPOSITORS. INTEREST INCOME FROM LOANS AND INVESTMENTS ALLOW THE CREDIT UNION TO PROVIDE LOW COST FINANCIAL SERVICES TO ITS MEMBERS. false false INVESTMENT INCOME FROM LOANS AND INVESTMENTS PROVIDE FUNDS NECESSARY TO PROVIDE LOW COST FINANCIAL PRODUCTS TO MEMBER OWNERS. false false false false false false false true false true false false true true false true false false false false false false false false false false false false true false false false false false false false false false false false false false false true 43 0 true 77 true false false false false false false X 9 8 false false false false true true false true true false true true true true true true false true true true false X X JOSEPH LAJOIE 4017394600 2669 POST ROAD WARWICK RI 02886 THOMAS AHERN CHAIRMAN/DIR 5.00 X X 36400 0 0 JOHN BAMFORD V CHAIRMAN/D 4.00 X X 24400 0 0 PETER D'ORSI JR TREASURER/DI 3.00 X X 22850 0 0 KAREN SD GRANDE ESQ SECRETARY/DI 3.00 X 22600 0 0 ANTHONY MAROUCHOC DIRECTOR 1.00 X 14600 0 0 SANDRA POWELL DIRECTOR 1.00 X 13600 0 0 KATHLEEN HITTNER MD DIRECTOR 1.00 X 13350 0 0 PHILIP SLOCUM DIRECTOR 1.00 X 13350 0 0 FREDERICK REINHARDT CEO 40.00 X 251936 0 28320 JOSEPH LAJOIE CFO/SR VP 40.00 X 205383 0 12472 MARIANNE VARATTA SENIOR VP/DI 40.00 X 133166 0 20907 HOLLY FERRARA VP COMM LEND 40.00 X 120248 0 21890 STEPHEN ELIAS VP INDIRECT 40.00 X 115898 0 20621 987781 104210 5 false true false LEE MASON PO BOX 270 NORTHVILLE NY 12134 1294633 FISERV PO BOX 99924 GRAPEVINE TX 76099 965616 BLUE CROSS PO BOX 1057 444 WESTMINSTER ST PROVIDENCE RI 02901 536670 NES GROUP INC 905 S MAIN ST BLDG B STE 201 MANSFIELD MA 02048 BUILDING PLANNI 260117 4 INTEREST ON LOANS 13942349 13942349 MEMBER SERVICE FEES 2064990 2064990 GAIN ON SALE OF LOANS 328223 328223 GAIN ON SALE OF FIXED ASSETS -3294 -3294 16332268 1038663 1038663 17370931 17370931 161150 4380020 175146 429903 5311511 351043 OPERATIONS EXPENSE 2569685 DATA PROCESSING EXPENSE 1794495 PROVISION FOR LOAN LOSSES 322657 15495610 0 0 0 3223161 1908837 2654800 4072800 378292132 425171902 378629 470023 10467906 5968399 3164215 4499507 47429511 35290215 21118886 25397186 456261334 496810470 2259968 2512044 373510 419210 412332646 450708685 414966124 453639939 X 41295210 43170531 41295210 43170531 456261334 496810470 1875321 X true X true X true false false false 316913 316913 4428240 2683343 1744897 3006589 2595698 410891 2716164 689358 2026806 4499507 OTHER ASSETS 21451757 NCUA DEPOSIT 3778389 ASSETS HELD FOR SALE 167040 25397186 MEMBERS' SAVINGS ACCOUNTS 287551545 MEMBERS' SHARE ACCOUNTS 118757140 ADVANCES - FHLB 44400000 450708685 17370931 17370931 17370931 15495610 15495610 15495610 X true true X false false false FREDERICK REINHARDT CEO 241136 10800 28320 280256 JOSEPH LAJOIE CFO/SR VP 170583 30000 4800 12472 217855 MARIANNE VARATTA SENIOR VP/DIRECTOR 95816 24000 13350 20907 154073 SCHEDULE J, PART III A BUDGET FOR COMPANION TRAVEL TO CONFERENCES AND SEMINARS IS APPROVED BY THE MEMBERS EACH YEAR AT THE ANNUAL MEETING. FORM 990, PAGE 6, PART VI, LINE 6 THE CREDIT UNION IS OWNED BY ITS MEMEBER DEPOSITORS. FORM 990, PAGE 6, PART VI, LINE 7A THE BOARD MEMBERS ARE ELECTED DURING ANNUAL MEETINGS FOR THE TERM OF 3 YEARS. VACANCY OCCURING BETWEN ANNUAL MEETINGS IS FILLED BY THE VOTE OF THE MAJORITY OF THE DIRECTORS. DIRECTORS SO APPOINTED HOLD OFFICE UNTIL NEXT ANNUAL MEETING. THE BOARD ELECTS A CHAIRPERSON, A PRESIDENT AND A VICE- PRESIDENT. FORM 990, PAGE 6, PART VI, LINE 11B FORM 990 IS PROVIDED TO MANAGEMENT FOR APPROVAL PRIOR TO SUBMISSION. THE BOARD OF DIRECTORS MAY REVIEW THE FORM 990 AT THE MEETING SUBSEQUENT TO THE FILING DATE. FORM 990, PAGE 6, PART VI, LINE 12C THE SUPERVISORY COMMITTEE MONITORS THE BOARD OF DIRECTORS TO ASSURE COMPLIANCE WITH CREDIT UNION POLICY AND ADHERENCE TO RHODE ISLAND GENERAL LAW GOVERNING CREDIT UNION OPERATIONS. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD APPROVES ANNUALLY THE COMPENSATION AWARDED TO THE KEY OFFICERS AND EMPLOYEES OF THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD APPROVES ANNUALLY THE COMPENSATION AWARDED TO THE KEY OFFICERS AND EMPLOYEES OF THE CREDIT UNION. FORM 990, PAGE 6, PART VI, LINE 19 THE CREDIT UNION'S FINANCIAL RESULTS ARE POSTED AT THE BRANCH ON A MONTHLY BASIS. POLICIES ARE AVAILABLE TO MEMBERS UPON REQUEST.